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Statement by Michele Bullock, Governor: Monetary Policy Decision
At its meeting today, the Board decided to raise the cash rate target by 25 basis points to 4.35 per cent. It also increased the interest rate paid on Exchange Settlement balances by 25 basis points to 4.25 per cent. Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago. The latest reading on CPI inflation indicates that while goods price inflation has eased further, the prices of many services are continuing to rise briskly. While the central forecast is for CPI inflation to continue to decline, progress looks to be slower than earlier ... (full story)
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RBA: BOARD JUDGED AN INCREASE IN INTEREST RATES WAS WARRANTED TODAY TO BE MORE ASSURED THAT INFLATION WOULD RETURN TO TARGET IN A REASONABLE TIMEFRAME.
— First Squawk (@FirstSquawk) November 7, 2023
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RBA: WHETHER FURTHER TIGHTENING OF MONETARY POLICY IS REQUIRED TO ENSURE THAT INFLATION RETURNS TO TARGET IN A REASONABLE TIME FRAME WILL DEPEND UPON THE DATA AND THE EVOLVING ASSESSMENT OF RISKS
— First Squawk (@FirstSquawk) November 7, 2023
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RBA: HIGH INFLATION IS WEIGHING ON PEOPLE’S REAL INCOMES AND HOUSEHOLD CONSUMPTION GROWTH IS WEAK, AS IS DWELLING INVESTMENT #News #Markets #RBA #INFLATION #live
— Capital Hungry (@Capital_Hungry) November 7, 2023
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AUSSIE DOLLAR DOWN 0.12% TO $0.6481 AFTER RBA HIKES RATES BY 25 BPS
— First Squawk (@FirstSquawk) November 7, 2023
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